The publishing industry has evolved rapidly as a result of the digital revolution. The products, processes and methods of consumption have all irrevocably changed and it is crucial for publishers to find ways to capitalise on this new publishing landscape.
Particularly
in the current economic climate, where people have less disposable income to
spend on books, magazines and newspapers, it is essential for publishers to
prove their worth. They must provide something that customers are willing to
pay for, all the while competing with an increasing array of free and cheap content
online.
For book
publishers, this means offering something of value in an age of
self-publishing. For magazines and newspapers, this means distinguishing themselves
from the realms of free content online and creating something that can be
monetised viably. Furthermore, this must all be accomplished in an era of
falling sales, advertising revenues and prices.
However,
publishers no longer have to undergo this task in isolation but instead now
have direct contact with their consumers as a result of the increasingly
interconnected, social society. They must utilise this direct market access to
ensure that they are catering to the needs and wants of consumers.
In doing
so, it is also vital for publishers to keep abreast of continuing technological
advances so that they can exploit opportunities when they arise and ensure that
they do not get left behind.
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